Mr Worf, I'm surprised that CHina's not #1 on the list. The money's flowing so freely over there that, according to a bit I heard on one of my favorite shows, "No Reservations with Anthony Bourdain", a couple of Americans were recently hired to build a ski resort in Harbin, near the Russo-Chinese border. And the place is top-flight.
On Sun, Jun 20, 2010 at 7:36 PM, Mr. Worf <[email protected]> wrote: > > > Countries with the Most Millionaires > by Venessa Wong > Sunday, June 20, 2010provided by[image: > BusinessWeek]<http://www.businessweek.com/> > > As the financial markets rebounded in 2009 and developing markets continued > to grow, lost wealth around the world returned. Despite the volatile global > economy, many households gained or regained millionaire status last year, > according to a new report by the Boston Consulting Group. The study finds > global wealth increased 11.5 percent in 2009, to $111.5 trillion, just short > of 2007 levels. When measuring assets under management -- cash deposits, > money market funds, listed securities, and onshore and offshore assets, but > not wealth attributed to investors' own businesses, residences, or luxury > goods -- the U.S. continued to lead with more than 4.7 million "millionaire > households," followed by Japan and China. > *More from BusinessWeek.com <http://www.businessweek.com/index.html>:* > > • Countries with the Most Millionaires 2010 > <http://images.businessweek.com/ss/10/06/0615_global_millionaires/index.htm?campaign_id=yahoo> > > • Most Expensive Homes in America's Biggest Cities > <http://images.businessweek.com/ss/10/05/0520_most_expensive_homes_by_city/index.htm?campaign_id=yahoo> > > • Most Expensive Summer Homes 2010 > <http://images.businessweek.com/ss/10/05/0511_most_expensive_summer_homes_2010/index.htm?campaign_id=yahoo> > > Singapore, a country with a population of about 5.1 million, had the > greatest concentration of millionaire households: 11.4 percent of the > country's total. Wealth may have returned to precrisis levels last year, but > confidence has not yet. BCG expects global wealth to grow an average 6 > percent annually through 2014, led by robust economies in the Asia-Pacific, > but Peter Damisch, a BCG partner and a co-author of the report, says people > are still hesitant about investing. Many moved assets from private banks to > state-guaranteed retail banks and are still waiting for either new > opportunities or new confidence to reinvest, says Damisch. > > > > * 1. United States* > [image: Biz1.jpg] > Bloomberg News > > *2009 Population:* 306.8 million* > > *2009 number of millionaire households:* 4,715,000** > *Percentage increase:* 15.1 percent YOY** > *Share of country's wealth held by millionaire households:* 56 percent** > > Even though the U.S. real estate market remained weak, the stock market > rebound helped boost the number of millionaire households 15.1 percent in > 2009. The U.S. had the most millionaires by far, leading second-in-line > Japan by 3,485,000 households. > > Millionaires represented a fraction of the U.S. population last year but > held 56 percent of its wealth, according to Boston Consulting Group. > > * Source on all slides: Population Reference Bureau > ** Source on all slides: Boston Consulting Group. The year on year change > in number of millionaire households was calculated using a constant exchange > rate; BCG used yearend 2009 exchange rates to calculate the number of > millionaire households in both 2008 and 2009. > > > > *2. Japan* > > *Population:* 127.6 million > > *2009 number of millionaire households:* 1,230,000 > *Percentage increase:* 5.9 percent YOY > *Share of country's wealth held by millionaire households:* 21 percent > > The number of millionaire households in Japan grew by a 5.9 percent in > 2009. Although No. 3 on the list China tightened the gap with a 30.7 percent > increase, Japan still outpaced its developing neighbor by 560,000 > households. > > > > *3. China* > [image: biz3.jpg] > Bloomberg News > > *Population:* 1,331.4 million > > *2009 number of millionaire households:* 670,000 > *Percentage increase:* 30.7 percent YOY > *Share of country's wealth held by millionaire households:* 50 percent > > While developed countries struggled through the recession, China's economy > continued to boom, with gross domestic product growing 8.7 percent last > year. The surge of commercial activity has created a growing nouveau riche > population in China that includes entrepreneurs and investors, although they > still represent a tiny fraction of the total population. > > Seeing opportunities in the growing wealthy demographic, luxury retailers > have set up operations in major cities, and high-end real estate is drawing > interest -- for example, a $30 million house reportedly sold in Shanghai. > > > > *4. United Kingdom* > > *Population:* 61.8 million > > *2009 number of millionaire households:* 485,000 > *Percentage increase:* 11.5 percent YOY > *Share of country's wealth held by millionaire households:* 23 percent > > As the financial markets improved, the millionaire population is rebounding > in the U.K. Their numbers fell by more than half in the recession, according > to a 2009 BBC report. The British Chambers of Commerce said the economy was > showing signs of leaving recession in 2009, and gross domestic product > ticked up 0.3 percent in this year's first quarter over the previous > quarter. > > > > *5. Germany* > [image: biz5.jpg] > Bloomberg News > > *Population:* 82 million > > *2009 number of millionaire households:* 430,000 > *Percentage increase:* 23.1 percent YOY > *Share of country's wealth held by millionaire households:* 22 percent > > Not only have Germany's rich increased in numbers, apparently some have > also heightened their sense of public duty. > > According to a report by CNBC, a group of German millionaires and > billionaires founded a Club of the Wealthy and proposed to Chancellor Angela > Merkel that they give 10 percent of their income as a "rich tax" for 10 > years to address budget problems. > > > > *6. Italy* > > *Population:* 60.3 million > > *2009 number of millionaire households:* 300,000 > *Percentage increase:* 7.6 percent YOY > *Share of country's wealth held by millionaire households:* 27 percent > > Italy's economy contracted by 5 percent in 2009, but the number of > millionaire households grew, and the rich increased their wealth, according > to a PricewaterhouseCoopers study. The report shows that the increase in > wealth was mostly a result of €85 billion that flowed into the country under > an Italian tax amnesty on assets held in offshore accounts. > > > > *7. Switzerland* > [image: biz7.jpg] > Bloomberg News > > *Population:* 7.8 million > > *2009 number of millionaire households:* 283,000 > *Percentage increase:* 8.4 percent YOY > *Share of country's wealth held by millionaire households:* 44 percent > > Switzerland, one of the wealthiest nations by personal income, also has the > third-highest concentration of millionaire households -- 8.4 percent of > total households, according to the Boston Consulting Group. > > In a sign of further strengthening, the Swiss State Secretariat for > Economics recently raised its growth forecast for the economy in 2010 to 1.8 > percent from 1.4 percent. > > > > *8. France* > > *Population:* 62.6 million > > *2009 number of millionaire households:* 280,000 > *Percentage increase:* 11.2 percent YOY > *Share of country's wealth held by millionaire households:* 19 percent > > The French may enjoy high quality of life, but France did not make it into > the top five for its number of millionaire households. Its gross domestic > product last year dropped 2.2 percent, but the government expects GDP to > pick up by 1.4 percent in 2010. > > > > *9. Taiwan* > [image: biz9.jpg] > Bloomberg News > > *Population:* 23.1 million > > *2009 number of millionaire households:* 230,000 > *Percentage increase:* 21.1 percent YOY > *Share of country's wealth held by millionaire households:* 37 percent > > Home to manufacturers and such technology companies as Acer and Asus, > Taiwan has a large number of millionaires, who represent 3 percent of total > households, according to BCG. The wealthy in Taiwan enjoy a favorable tax > regime. According to an article in Commonwealth Magazine on Chinapost.com, > eight of Taiwan's 40 wealthiest people paid no taxes in 2005 and 17 paid > just 1 percent of their income. The article adds that nearly 30 percent of > households in Taiwan do not pay taxes, and many of them earn high incomes. > > > > *10. Hong Kong* > > *Population:* 7 million > > *2009 number of millionaire households:* 205,000 > *Percentage increase:* 16.2 percent YOY > *Share of country's wealth held by millionaire households:* 73 percent > > In Hong Kong, 8.8 percent of households are millionaire households -- the > second-highest concentration in the world after Singapore, according to data > from the Boston Consulting Group. Media reports say the stock market > recovery and rising property prices in Hong Kong and China helped the > richest add billions to their wealth in 2009. > > > > > -- > Celebrating 10 years of bringing diversity to perversity! > Mahogany at: http://groups.yahoo.com/group/mahogany_pleasures_of_darkness/ > > -- "If all the world's a stage and we are merely players, who the bloody hell wrote the script?" -- Charles E Grant http://www.youtube.com/watch?v=fQUxw9aUVik
